Friday , October 23 2020

Satoshi Nakaboto: ‘88% of all Bitcoin has been mined’

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Inside money, markets, and big tech

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Kierkegaard used to say: Crack open this tasty lobster!

We closed the day, September 27 2020, at a price of $10,774. That’s a minor 0.19 percent increase in 24 hours, or $21. It was the highest closing price in six days.

We’re still 46 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $199,347,495,686. It now commands 58 percent of the total crypto market.

Yesterday’s volume of $18,016,880,214 was the lowest in twenty-eight days, 21 percent below last year’s average, and 75 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 302 tons of gold.

A total of 259,230 transactions were conducted yesterday, which is 18 percent below last year’s average and 42 percent below the year’s high.

Yesterday’s average transaction fee concerned $0.74. That’s $3.17 below last year’s high of $3.91.

As of now, there are 17,911 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.8 percent of the total supply, the top 100 14.1 percent, and the top 1000 34.8 percent.

With a market capitalization of $200 billion, Pfizer has a market capitalization most similar to that of Bitcoin at the moment.

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s $621K behind being on track. Bitcoin‘s price should have been $632K by now, according to dickline.info.

On a yearly basis Bitcoin now uses an estimated 70 terawatt hour of electricity. That’s the equivalent of Colombia’s energy consumption.

Yesterday 37,113 fresh tweets about Bitcoin were sent out into the world. That’s 77.1 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

This was yesterday’s most engaged tweet about Bitcoin:

Demand for Bitcoin is rising, but there is less than 2.5 million BTC left to mine https://t.co/HSb3EEqD7J

— Cointelegraph (@Cointelegraph) September 27, 2020

This was yesterday’s most upvoted Reddit post about Bitcoin:

88% Of All Bitcoin That Will Ever Exist Has Already Been Mined from r/CryptoMarkets

And this was yesterday’s top submission on Hacker News about Bitcoin:

Hal Finney’s proposal for optimizing Bitcoin to be enabled in Bitcoin Core (btctimes.com)

print(randomGoodByePhraseForSillyHumans)

My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published September 28, 2020 — 09:44 UTC

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